SAN DIEGO, Jan. 9, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Surgical Care Affiliates, Inc. (NASDAQ: SCAI) breached their fiduciary duties in connection with the proposed sale of the Company to UnitedHealth Group. Surgical Care owns and operates a network of multi-specialty ambulatory surgery centers and surgical hospitals primarily in the United States.
On January 9, 2017, Surgical Care announced it had signed a definitive merger agreement with UnitedHealth. Under terms of the agreement, UnitedHealth will buy Surgical Care's outstanding common stock for $57 a share. The deal will be funded between 51 percent to 80 percent with UnitedHealth stock, and the remainder in cash.
The investigation concerns whether the Surgical Care board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Surgical Care shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of Surgical Care and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP